The New Enterprise Allowance…………….Not bad and easy to access as well.
This is great if you are deciding to start your own business and you’re in receipt of benefits. The benefit that qualify’s is Job Seekers allowance.
Its primarily designed for loan and finance, but also offers a very good mentoring. New Enterprise Allowance is great for connections too, and they support you for 6 months from your sign up day.
New Enterprise Allowance ……………… what is it?
- Support and advice to help prepare for self-employment
- Support for at least the first six months of trading
- An allowance paid for the first 26 weeks of business, to help support you during your business start up. At these times your earnings could rise and fall
- Loan of up to £1,000
The allowance and the loan are not taken into account when working out these benefits
- Housing Benefit
- Council Tax Benefit
- Tax credits
- Income Tax
New Enterprise Allowance …………….Get The Ball Rolling
If you are interested in taking part in The New Enterprise Allowance then please talk to your Jobcentre they will explain everything and put your mind at ease:
Touching on these topics
- How will the New Enterprise Allowance works?
- Who will assess the business idea/Plan?
- Who provides the practical support?
- What do the adviser expect from me at the Jobcentre?
- How much will I be paid?
- About the loan – including where to apply for a small, affordable loan to help with start up costs
- What will happen when the allowance ends
If they think your idea is viable then they will direct you to a funding option, usually in the form of a low interest loan.
I have had a Community Development Finance Association (CDFA) low interest loan (Impetus Marches,Shropshire very nice people) These specialists will go over your business plan with a fine tooth comb and either grant you the funds or point you in the right direction of a mentor so you can get to where you want to be. You will also be assigned a mentor if you get the funding so again a win win situation (loan)
For more information please contact Jobcentre Plus on 08456 060 234
To meet the criteria you have to be over 18 years of age and one of the following:
- In receipt of Jobseeker’s Allowance for at least six months, before entry to the Work Programme
- Your Business Idea has been looked at and it’s a cracker ;D
- You live in an area where The New Enterprise Allowance is available
Good luck guys hope this helps x x x
See you soon